Kayak and Palo Alto Networks go public

Travel search firm Kayak raised USD100m in its initial public offering, valuing the firm at USD1bn after it sold 3.5m shares for USD26 each. Founded in 2004, Kayak has previously raised USD223m in VC funding from the likes of Sequoia and Accel. It originally filed to go public a year ago but delayed the offering a number of times as it waited for the right economic conditions. Shares in the firm jumped 16% when trading began, opening at USD30 per share.


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